The OPEC Secretary-General Mohammed Barkindo , as well as the Energy Ministers of Algeria and Qatar Mohammed Saleh Al Sada and Nouredine Bouterfa have expressed a support for the agreement arrived between Russia and Saudi Arabia on stabilization of oil prices by joint actions.

Earlier, the UAE Minister of Energy Suhail Al Mazroui and Oil Minister of Kuwaiti Anas Al-Saleh told that their countries support the agreement between Russia and Saudi Arabia on stabilization of the oil market. Russia and the Saudi Arabia agreed on Monday to work on the outlook of a long-term stability in oil market by  joint actions or coordinated actions with other oil producers in the market. The relevant statement was signed by the Russian Minister of Energy and the Minister of Energy, Industry and Mineral Resources of Saudi Arabia Khalid Al-Falih.

The countries also agreed to continue consultations on the situation in the oil market and create a joint monitoring working group , which will follow the basic indices of the oil market and develop joint measures and actions necessary for ensuring stability and predictability in the market. In October, there will be held the first meeting of the Russian and Saudi Arabian working group on cooperation in the oil and gas industry.

In addition , the Russian Energy Minister Alexander Novak and the Saudi Arabian Energy, Industry and Mineral Resources Minister Khalid al- Falih will have meetings in September in Algeria during the IMF ministerial meetings and in November within  the framework of Vienna OPEC meeting , reports the RIA Novosti.